Shein's up to $1.8 billion Hong Kong IPO order book covered, sources say

HONG KONG: Online fast-fashion retailer Shein’s Hong Kong IPO book to raise up to $1.8 billion has been fully covered with investor demand, two sources with knowledge of the matter said.

Shein launched the new share sale on Monday, valuing the company at up to $27 billion.

Shein seeks $30-$40 billion valuation for August Hong Kong IPO, sources say

Investor orders for the offering have come from a number of existing shareholders, China-focused and multi-strategy funds, said the sources who declined to be named as they were not authorised to speak to the media.

A spokesperson for Shein did not immediately respond to Reuters request for comment.